Crinetics (CRNX) Director Nichols Weston Sells Shares (Merger Cash-Out)

What Happened
Nichols Weston, a director of Crinetics Pharmaceuticals (CRNX), had a total of 132,305 shares/award-equivalents converted to cash in connection with Vertex’s acquisition of Crinetics effective Sept 1, 2026. The Form 4 reports multiple "Disposition to the issuer (D)" entries that together paid Weston $8,392,845. Some lines reflect cancellation of common stock (paid at $85.00/share); other lines reflect cancellation/settlement of vested RSUs and stock options (paid in cash, see footnotes).

Key Details

• Transaction date: 2026-09-01 (Effective Time of the merger).
• Total proceeds reported: $8,392,845 across 10 disposition lines.
• Total units converted/canceled: 132,305 (mix of common shares, vested RSUs and vested options).
• Prices shown: common shares converted at $85.00/ share (merger consideration). Prices listed for derivative lines reflect the per-share cash value for vested options/RSUs (see footnote F4: difference between $85 and option strike for options).
• Shares owned after transaction: Company common shares were canceled at the Effective Time and converted to cash; the filing shows the holdings were cashed out in the merger (effectively no pre-merger common shares remain).
• Notable footnotes summarized below (F1–F4).
• Filing timing: the Form 4 reports transactions and merger effective date as 2026-09-01; no late filing is indicated in the provided data.

Context

• This activity is a merger-driven cash-out, not an open-market sale. Per the Merger Agreement (F1), each outstanding Crinetics share was canceled for $85.00 in cash.
• RSUs and unvested options accelerated to vest immediately prior to the Effective Time and were converted to cash (F2, F3). Options with exercise prices below $85 were paid out for the difference between $85 and the strike; options with exercise prices at or above $85 were canceled for no consideration (F3–F4).
• For retail investors: merger cash-outs are routine corporate actions and do not necessarily indicate the insider’s view of the company’s future performance.